The deal between Sting and Universal Music covers Sting’s entire songwriting catalogue, including all of his solo work, and the hits by the Police.
In breaking news, Sting has sold his entire songwriting catalog, including classic Police tunes such as ‘Message In A Bottle’ and ‘Walking On The Moon,’ and solo hits such as ‘Englishman In New York’ and ‘Fields Of Gold.’ This is the latest of Universal Music Group’s acquisitions, following on from their recent purchase of Bob Dylan’s songwriting catalogue.
The deal covers both Sting’s royalties as a songwriter and the copyrights for his songs, meaning that Universal will receive all future music publishing income from his work.
The transaction was announced on Thursday Feb 10th by Universal’s music publishing division, and while financial terms were not disclosed, the deal is estimated to be worth at least 250 million dollars, and possibly more.
Because of the fast growth of streaming and low interest rates, over the last couple of years, investors and major music conglomerates have invested billions on dollars into music deals. This growing trend has seen the likes of Bruce Springsteen, Tina Turner, Motley Crue & Neil Young all strike deals to sell their catalogues for eight and nine figure sums.
Speaking in a statement, Sting said “It is absolutely essential to me that my career’s body of work have a home where it is valued and respected. Not only to connect with longtime fans in new ways, but also to introduce my songs to new audiences, musicians and generations.”
Universal have certainly acquired a catalogue of classic tunes, and Sting has certainly acquired a pretty penny for it. You could almost say, that with an extra 250 million dollars in his pocked, he’ll feel like he’s ‘Walking On The Moon…’
Original news provided by The New York Times